DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition
Katz
Entrepreneurial Small Business 6th Edition by Katz CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) The majority of new firms go through similar startup processes with those most likely to
be successful following a four-step process: finance, check, plan, do.
1) ______
⊚ true
⊚ false
Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Remember
Learning Objective : 01-01 Understand the scope of small business in the United States.
null : Level of Difficulty: 1 Easy
Topic : Starting an Entrepreneurial Small Business: Four Key Ideas
2) Kevin wanted to start his own business of ferrying pets to the vet or groomers for their
owners but he was advised to perform a feasibility analysis before moving forward. Kevin is on
the third step of the entrepreneurial process: plan.
2) ______
⊚ true
⊚ false
Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Learning Objective : 01-01 Understand the scope of small business in the United States.
null : Level of Difficulty: 1 Easy
Bloom's : Understand
Topic : Starting an Entrepreneurial Small Business: Four Key Ideas
3) In order to make profits from a small business, the company needs to make an actual
product.
3) ______
⊚ true
⊚ false
Version 1 1
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,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition
Katz Katz
Entrepreneurial Small Business 6th Edition by Katz CH01 Entrepreneurial Small Business 6th Edition by Katz CH01
6) ______
Question Details
AACSB : Knowledge Application ⊚ true
Accessibility : Keyboard Navigation ⊚ false
Bloom's : Remember
null : Level of Difficulty: 1 Easy
Question Details
Learning Objective : 01-03 Dispel key myths about small businesses.
AACSB : Knowledge Application
Topic : Myths about Small Businesses
Accessibility : Keyboard Navigation
Bloom's : Remember
null : Level of Difficulty: 1 Easy
4) Truly entrepreneurial businesses are characterized by imitativeness in their products, Learning Objective : 01-06 Recognize the seven key strategies of the entrepreneurial way.
services, or business models. Topic : Challenge and the Entrepreneurial Way
4) ______
7) High-performing small businesses start with the intent of eventually going public,
⊚ true
following the pattern of growth and operations of a big business.
⊚ false
7) ______
Question Details
AACSB : Knowledge Application ⊚ true
Accessibility : Keyboard Navigation ⊚ false
Bloom's : Remember
Learning Objective : 01-01 Understand the scope of small business in the United States.
Question Details
null : Level of Difficulty: 1 Easy
AACSB : Knowledge Application
Topic : Entrepreneurs Are Everywhere
Accessibility : Keyboard Navigation
Bloom's : Remember
null : Level of Difficulty: 1 Easy
5) Self-employed persons are not referred to as entrepreneurs. Learning Objective : 01-02 Differentiate between small businesses and high-growth ventures.
Topic : Entrepreneurs and Firm Growth Strategies
5) ______
⊚ true
8) Lifestyle or part-time firms typically provide enough profit or salary to supplement an
⊚ false income but usually not enough on which to live.
Question Details 8) ______
AACSB : Knowledge Application
Accessibility : Keyboard Navigation ⊚ true
Bloom's : Remember
⊚ false
Learning Objective : 01-01 Understand the scope of small business in the United States.
null : Level of Difficulty: 1 Easy
Question Details
Topic : Entrepreneurs Are Everywhere
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Remember
6) Crowdsourcing is funding a business online through the collective involvement of others null : Level of Difficulty: 1 Easy
who provide donations, loans, or investments. Learning Objective : 01-02 Differentiate between small businesses and high-growth ventures.
Topic : Entrepreneurs and Firm Growth Strategies
Version 1 2 Version 1 3
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,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition
Katz Katz
Entrepreneurial Small Business 6th Edition by Katz CH01 Entrepreneurial Small Business 6th Edition by Katz CH01
Question Details
AACSB : Knowledge Application
9) If you don't succeed the first time, try, try again. This is called the strategy of self-
Accessibility : Keyboard Navigation
efficacy. Bloom's : Remember
null : Level of Difficulty: 1 Easy
9) ______ Learning Objective : 01-05 Recognize how small businesses are important to our economy and your commu
Topic : New Jobs
⊚ true
⊚ false
Question Details
12) Big business often has trouble with innovations, but small, new, businesses are more
AACSB : Knowledge Application likely to see new revenues in innovations.
Accessibility : Keyboard Navigation
Bloom's : Remember 12) ______
null : Level of Difficulty: 1 Easy
Learning Objective : 01-06 Recognize the seven key strategies of the entrepreneurial way. ⊚ true
Topic : Challenge and the Entrepreneurial Way ⊚ false
Question Details
AACSB : Knowledge Application
10) High-growth ventures are also known as main street businesses.
Accessibility : Keyboard Navigation
Bloom's : Remember
10) ______
null : Level of Difficulty: 1 Easy
Learning Objective : 01-05 Recognize how small businesses are important to our economy and your commu
⊚ true
Topic : New Ideas
⊚ false
Question Details
AACSB : Knowledge Application 13) Using low-cost or free techniques to minimize cost of doing business is referred to as
Accessibility : Keyboard Navigation bootstrapping.
Bloom's : Remember
null : Level of Difficulty: 1 Easy 13) ______
Learning Objective : 01-02 Differentiate between small businesses and high-growth ventures.
Topic : Entrepreneurs and Firm Growth Strategies ⊚ true
⊚ false
11) Small businesses employ about 10 percent of all Americans. Question Details
AACSB : Knowledge Application
11) ______ Accessibility : Keyboard Navigation
Bloom's : Remember
⊚ true null : Level of Difficulty: 1 Easy
Learning Objective : 01-03 Dispel key myths about small businesses.
⊚ false
Topic : Myths about Small Businesses
14) Ninety percent of all new businesses fail within two years.
Version 1 4 Version 1 5
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, DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition
Katz Katz
Entrepreneurial Small Business 6th Edition by Katz CH01 Entrepreneurial Small Business 6th Edition by Katz CH01
14) ______
⊚ true 17) The disadvantage of the BRIE model is that it does not mention the management of
⊚ false resources.
Question Details 17) ______
AACSB : Knowledge Application
Accessibility : Keyboard Navigation ⊚ true
Bloom's : Remember
⊚ false
null : Level of Difficulty: 1 Easy
Learning Objective : 01-03 Dispel key myths about small businesses.
Question Details
Topic : Myths about Small Businesses
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Remember
15) The most frequently occurring element of the BRIE model is intention. null : Level of Difficulty: 1 Easy
Learning Objective : 01-04 Identify actions key to becoming a small business.
15) ______ Topic : Getting Started Now: Entry Competencies
⊚ true
⊚ false 18) One of the seven key strategies of the entrepreneurial way involves effectuation or an
approach used to create alternatives in uncertain environments.
Question Details
AACSB : Knowledge Application
18) ______
Accessibility : Keyboard Navigation
Bloom's : Remember
⊚ true
null : Level of Difficulty: 1 Easy
Learning Objective : 01-04 Identify actions key to becoming a small business. ⊚ false
Topic : Getting Started Now: Entry Competencies
Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
16) In the BRIE model, exchange refers to moving resources, goods, or services to others, in Bloom's : Remember
exchange for money or other resources. null : Level of Difficulty: 1 Easy
Learning Objective : 01-06 Recognize the seven key strategies of the entrepreneurial way.
16) ______ Topic : Challenge and the Entrepreneurial Way
⊚ true
⊚ false 19) High-growth ventures and big businesses generally do not succeed without small
businesses offering supporting services.
Question Details
AACSB : Knowledge Application
19) ______
Accessibility : Keyboard Navigation
Bloom's : Remember
⊚ true
null : Level of Difficulty: 1 Easy
Learning Objective : 01-04 Identify actions key to becoming a small business. ⊚ false
Topic : Getting Started Now: Entry Competencies
Version 1 6 Version 1 7
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Katz
Entrepreneurial Small Business 6th Edition by Katz CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) The majority of new firms go through similar startup processes with those most likely to
be successful following a four-step process: finance, check, plan, do.
1) ______
⊚ true
⊚ false
Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Remember
Learning Objective : 01-01 Understand the scope of small business in the United States.
null : Level of Difficulty: 1 Easy
Topic : Starting an Entrepreneurial Small Business: Four Key Ideas
2) Kevin wanted to start his own business of ferrying pets to the vet or groomers for their
owners but he was advised to perform a feasibility analysis before moving forward. Kevin is on
the third step of the entrepreneurial process: plan.
2) ______
⊚ true
⊚ false
Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Learning Objective : 01-01 Understand the scope of small business in the United States.
null : Level of Difficulty: 1 Easy
Bloom's : Understand
Topic : Starting an Entrepreneurial Small Business: Four Key Ideas
3) In order to make profits from a small business, the company needs to make an actual
product.
3) ______
⊚ true
⊚ false
Version 1 1
mynursytest.store
,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition
Katz Katz
Entrepreneurial Small Business 6th Edition by Katz CH01 Entrepreneurial Small Business 6th Edition by Katz CH01
6) ______
Question Details
AACSB : Knowledge Application ⊚ true
Accessibility : Keyboard Navigation ⊚ false
Bloom's : Remember
null : Level of Difficulty: 1 Easy
Question Details
Learning Objective : 01-03 Dispel key myths about small businesses.
AACSB : Knowledge Application
Topic : Myths about Small Businesses
Accessibility : Keyboard Navigation
Bloom's : Remember
null : Level of Difficulty: 1 Easy
4) Truly entrepreneurial businesses are characterized by imitativeness in their products, Learning Objective : 01-06 Recognize the seven key strategies of the entrepreneurial way.
services, or business models. Topic : Challenge and the Entrepreneurial Way
4) ______
7) High-performing small businesses start with the intent of eventually going public,
⊚ true
following the pattern of growth and operations of a big business.
⊚ false
7) ______
Question Details
AACSB : Knowledge Application ⊚ true
Accessibility : Keyboard Navigation ⊚ false
Bloom's : Remember
Learning Objective : 01-01 Understand the scope of small business in the United States.
Question Details
null : Level of Difficulty: 1 Easy
AACSB : Knowledge Application
Topic : Entrepreneurs Are Everywhere
Accessibility : Keyboard Navigation
Bloom's : Remember
null : Level of Difficulty: 1 Easy
5) Self-employed persons are not referred to as entrepreneurs. Learning Objective : 01-02 Differentiate between small businesses and high-growth ventures.
Topic : Entrepreneurs and Firm Growth Strategies
5) ______
⊚ true
8) Lifestyle or part-time firms typically provide enough profit or salary to supplement an
⊚ false income but usually not enough on which to live.
Question Details 8) ______
AACSB : Knowledge Application
Accessibility : Keyboard Navigation ⊚ true
Bloom's : Remember
⊚ false
Learning Objective : 01-01 Understand the scope of small business in the United States.
null : Level of Difficulty: 1 Easy
Question Details
Topic : Entrepreneurs Are Everywhere
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Remember
6) Crowdsourcing is funding a business online through the collective involvement of others null : Level of Difficulty: 1 Easy
who provide donations, loans, or investments. Learning Objective : 01-02 Differentiate between small businesses and high-growth ventures.
Topic : Entrepreneurs and Firm Growth Strategies
Version 1 2 Version 1 3
mynursytest.store mynursytest.store
,DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition
Katz Katz
Entrepreneurial Small Business 6th Edition by Katz CH01 Entrepreneurial Small Business 6th Edition by Katz CH01
Question Details
AACSB : Knowledge Application
9) If you don't succeed the first time, try, try again. This is called the strategy of self-
Accessibility : Keyboard Navigation
efficacy. Bloom's : Remember
null : Level of Difficulty: 1 Easy
9) ______ Learning Objective : 01-05 Recognize how small businesses are important to our economy and your commu
Topic : New Jobs
⊚ true
⊚ false
Question Details
12) Big business often has trouble with innovations, but small, new, businesses are more
AACSB : Knowledge Application likely to see new revenues in innovations.
Accessibility : Keyboard Navigation
Bloom's : Remember 12) ______
null : Level of Difficulty: 1 Easy
Learning Objective : 01-06 Recognize the seven key strategies of the entrepreneurial way. ⊚ true
Topic : Challenge and the Entrepreneurial Way ⊚ false
Question Details
AACSB : Knowledge Application
10) High-growth ventures are also known as main street businesses.
Accessibility : Keyboard Navigation
Bloom's : Remember
10) ______
null : Level of Difficulty: 1 Easy
Learning Objective : 01-05 Recognize how small businesses are important to our economy and your commu
⊚ true
Topic : New Ideas
⊚ false
Question Details
AACSB : Knowledge Application 13) Using low-cost or free techniques to minimize cost of doing business is referred to as
Accessibility : Keyboard Navigation bootstrapping.
Bloom's : Remember
null : Level of Difficulty: 1 Easy 13) ______
Learning Objective : 01-02 Differentiate between small businesses and high-growth ventures.
Topic : Entrepreneurs and Firm Growth Strategies ⊚ true
⊚ false
11) Small businesses employ about 10 percent of all Americans. Question Details
AACSB : Knowledge Application
11) ______ Accessibility : Keyboard Navigation
Bloom's : Remember
⊚ true null : Level of Difficulty: 1 Easy
Learning Objective : 01-03 Dispel key myths about small businesses.
⊚ false
Topic : Myths about Small Businesses
14) Ninety percent of all new businesses fail within two years.
Version 1 4 Version 1 5
mynursytest.store mynursytest.store
, DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition DOWNLOAD THE Test Bank for Entrepreneurial Small Business 6th Edition
Katz Katz
Entrepreneurial Small Business 6th Edition by Katz CH01 Entrepreneurial Small Business 6th Edition by Katz CH01
14) ______
⊚ true 17) The disadvantage of the BRIE model is that it does not mention the management of
⊚ false resources.
Question Details 17) ______
AACSB : Knowledge Application
Accessibility : Keyboard Navigation ⊚ true
Bloom's : Remember
⊚ false
null : Level of Difficulty: 1 Easy
Learning Objective : 01-03 Dispel key myths about small businesses.
Question Details
Topic : Myths about Small Businesses
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Remember
15) The most frequently occurring element of the BRIE model is intention. null : Level of Difficulty: 1 Easy
Learning Objective : 01-04 Identify actions key to becoming a small business.
15) ______ Topic : Getting Started Now: Entry Competencies
⊚ true
⊚ false 18) One of the seven key strategies of the entrepreneurial way involves effectuation or an
approach used to create alternatives in uncertain environments.
Question Details
AACSB : Knowledge Application
18) ______
Accessibility : Keyboard Navigation
Bloom's : Remember
⊚ true
null : Level of Difficulty: 1 Easy
Learning Objective : 01-04 Identify actions key to becoming a small business. ⊚ false
Topic : Getting Started Now: Entry Competencies
Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
16) In the BRIE model, exchange refers to moving resources, goods, or services to others, in Bloom's : Remember
exchange for money or other resources. null : Level of Difficulty: 1 Easy
Learning Objective : 01-06 Recognize the seven key strategies of the entrepreneurial way.
16) ______ Topic : Challenge and the Entrepreneurial Way
⊚ true
⊚ false 19) High-growth ventures and big businesses generally do not succeed without small
businesses offering supporting services.
Question Details
AACSB : Knowledge Application
19) ______
Accessibility : Keyboard Navigation
Bloom's : Remember
⊚ true
null : Level of Difficulty: 1 Easy
Learning Objective : 01-04 Identify actions key to becoming a small business. ⊚ false
Topic : Getting Started Now: Entry Competencies
Version 1 6 Version 1 7
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